Tidewater Midstream and Infrastructure (TSE:TWM) Shares Up 66.7% – Here’s What Happened

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) was up 66.7% during trading on Friday . The stock traded as high as C$0.21 and last traded at C$0.20. Approximately 5,548,658 shares changed hands during trading, an increase of 854% from the average daily volume of 581,430 shares. The stock had previously closed at C$0.12.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Scotiabank decreased their target price on shares of Tidewater Midstream and Infrastructure from C$0.45 to C$0.30 in a research report on Friday, November 15th. CIBC increased their price objective on Tidewater Midstream and Infrastructure from C$0.30 to C$0.40 and gave the company a “neutral” rating in a report on Thursday, January 9th. Finally, Atb Cap Markets lowered Tidewater Midstream and Infrastructure from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$0.66.

Tidewater Midstream and Infrastructure Stock Up 66.7 %

The company has a current ratio of 1.23, a quick ratio of 0.55 and a debt-to-equity ratio of 183.03. The company has a market capitalization of C$86.21 million, a PE ratio of -0.24, a price-to-earnings-growth ratio of 0.64 and a beta of 1.67. The business’s 50-day simple moving average is C$0.17 and its 200-day simple moving average is C$0.23.

Tidewater Midstream and Infrastructure Company Profile

Tidewater Midstream and Infrastructure Ltd is a Canadian company that is engaged in providing midstream infrastructure and a natural gas storage facility. It mainly focuses on the purchase, sale, and transportation of Natural Gas Liquids (NGLs) such as propane and natural gasoline throughout North America and export to premium markets.